Cryptocurrency

The Securities and Exchange Commission overstepped its authority when it classified Coinbase-listed cryptocurrencies as securities, the exchange has argued in its final bid to dismiss a lawsuit by the securities regulator. In an Oct. 24 filing in a New York District Court, Coinbase chastised the SEC claiming its definition for what qualifies as a security

Major crypto exchanges recorded a net outflow on Oct. 24 as Bitcoin price briefly touched the $35,000 mark for the first time in a year. The movement of funds away from exchanges is considered a bullish sign as traders move their assets away from the centralized platforms in anticipation of a price surge. According to

Bitcoin (BTC) hit new three-month highs on Oct. 23 as the week’s first Asia trading session produced snap gains. BTC/USD 1-hour chart. Source: TradingView Bitcoin bulls face crunch BTC price resistance Data from Cointelegraph Markets Pro and TradingView showed BTC price adding momentum to reach $30,944 on Bitstamp. The largest cryptocurrency saw its first weekly

Reddit has said it will soon shutter its long-running, blockchain-based rewards service “Community Points,” citing scalability concerns.  In an official Oct. 17 announcement in the r/cryptocurrency subreddit, a Reddit team member said while the platform saw “some future opportunities for Community Points, there was no path to scale it broadly across the platform.” The Community

Ethereum decentralized finance (DeFi) protocol Hope Lend has next to zero assets left in its protocol after a devastating hack. According to multiple blockchain security firms, on Oct. 18, two individuals, a frontrunner who beat the original hacker after discovering the exploit, and the original hacker itself, stole a combined 526 Ether (ETH) from Hope

Ethereum restaking — proposed by middleware protocol EigenLayer — is a controversial innovation over the past year that has some of the brightest minds worried about the potential ramifications. Restaking involves reusing staked or locked-up Ether tokens to earn fees and rewards. The restaked tokens can then help secure and validate other protocols.  Proponents believe

The S&P 500 Index nudged higher by 0.45% to record its second positive week. While the United States equities markets were a slow mover, gold witnessed a massive run-up of more than 5% this week. Its rally of 3.11% on Oct. 13 was its best one-day performance since Dec. 1 of last year. However, the

Ether (ETH) price experienced a 7% decline between Oct. 6 and Oct. 12, hitting a seven-month low at $1,520. Although there was a slight rebound to $1,550 on Oct. 13, it appears that investor confidence and interest in Ethereum are waning, as indicated by multiple metrics. Some may argue that this movement reflects a broader

Elon Musk is a streamer? The social media website X, formerly known as Twitter, hosted its first gaming stream — a 50-minute-long Diablo 4 gameplay — on October 6. The stream, which has over 42 million views at the time of writing, involved X owner Elon Musk playing Blizzard Entertainment’s latest title and answering questions

Bitcoin (BTC) ground higher on Oct. 10 after the start of legacy market trading saw “de-risking” take over. BTC/USD 1-hour chart. Source: TradingView Bitcoin’s price preserves weekly support Data from Cointelegraph Markets Pro and TradingView showed BTC price stability returning ahead of the Wall Street open. Bitcoin bulls had lost their footing as the week

Polygon’s native token (MATIC) experienced a 16.4% rally that coincided with the launch of Polygon 2.0 Goreli testnet on Oct. 4. However, the resistance at $0.60 proved stronger than anticipated, and was followed with a 10.6% decline over the six days leading into Oct. 10. This decline was exacerbated by negative news regarding the departure

The hacker responsible for stealing over $400 million from FTX and FTX.US in November could be using the hype around Sam Bankman-Fried’s fraud trial to further obfuscate the funds, said CertiK director of security operations Hugh Brooks. Only days before the start of Bankman-Fried’s criminal trial, the FTX hacker, known as “FTX Drainer,” began moving millions

The crypto wallet address linked to the FTX exploiter moved roughly $36.8 million worth of Ether (ETH) in the last 24 hours amid the ongoing court trials of the defunct crypto exchange’s ex-CEO, Sam Bankman-Fried (SBF). Accounts linked to FTX and FTX.US were drained of $600 million on Nov. 11, 2022, hours after the crypto exchange

In 2021, Ardana Labs claimed it would provide an innovative stablecoin platform for the Cardano network. The new project, called “Ardana,” would allow investors to lock up crypto collateral and mint fiat-pegged stablecoins, including a U.S. dollar-based token called dUSD. It raised $10 million from investors that year, but it suddenly closed up shop in

Crypto and Web3 projects suffered a 153% increase in attack incidents from July to September 2023 compared to the same period in 2022, according to a report from blockchain security platform Immunefi. In Q3 2022, there were a total of 30 attack incidents. But in Q3 2023, this number swelled to 76. Nearly $686 million

Polygon Labs announced on Sep. 29 that Google Cloud has joined the Polygon PoS network as a validator.  Google Cloud joins more than 100 other validators verifying transactions on its L2 Ethereum network. This month, @GoogleCloud became part of the decentralized validator set for Polygon PoS. The same infrastructure used to power @YouTube and @gmail

Our weekly roundup of news from East Asia curates the industry’s most important developments. Chinese worker fined $145K over VPN An unnamed individual in China was fined 1.06 million Yuan ($144,907) for using a virtual private network (VPN) to access restricted websites as part of a remote work routine for a foreign employer.  According to

It’s been more than a decade since 850,000 BTC went missing from Mt. Gox, yet the collapse of the former exchange remains one of the most infamous black swan events of the cryptocurrency ecosystem. While creditors of the defunct exchange are edging closer to some form of restitution, Mt. Gox’s demise ended up playing an

Pull your sats out of Minecraft now Back in our July edition, we announced Satlantis, an independent Minecraft server run by the game’s fans, enabled players to earn Bitcoin by completing in-game quests using play-to-earn functionalities. We noted Minecraft developer Mojang’s previous NFT ban and concluded, “Time will show how this integration fairs against the

Decentralized oracle network Chainlink has downplayed a recent change in the number of signers required on its multisig wallet — a move that garnered backlash on social media from vocal critics. Crypto researcher Chris Blec was among a number of users on X (formerly known as Twitter) who called out Chainlink for quietly reducing the